CATEGORY / Coworking

In a world that is increasingly making use of the concept of a shared economy to drive growth and extract maximum efficiency from the resources available, it is little wonder that coworking has caught on. Coworking’s popularity is increasing with each passing year. Furthermore, the diversity of its users is rising, with large multinationals like Dell, Microsoft, and SalesForce embracing the concept.

For the most part, it is the benefits that individuals and business can accrue from this setup that has attracted interest and usage. The membership-based use of workspace has a lot of benefits, which include:

#1. Economical – For entrepreneurs seeking to set up their business, the overhead cost can be daunting. If you consider that to set up office space, one has to scour the area of interest for vacant office space, negotiate and lease their office space, the furnish the office, and pay for insurance, cleaning, and other office related services and products, this endeavor will positively stain the business. On the other hand, with The Farm Soho coworking space, all you need is to pay your monthly membership and you get a high-quality workspace that is not only furnished but has the vast majority resources that you need to be productive.

#2. Flexibility – Unlike traditional offices, co-working facilities are run on a 24/7 basis. This means that as a member, you can access your workspace anytime you want to work. Therefore, the workspace is flexible enough to allow to work on your terms and schedule. You can pull all-nighters, work for three weeks straight and rest for a whole week or any other work schedule that meet your needs. You will also want to pick a space where you can hold events such as The Farm Soho.

#3. Emotional Support – Coworking spaces inherently induce an aura and sense of community among members. Members get an opportunity to interact and network with a diverse group of people. By surrounding yourself with people, it the same situation as you are budding entrepreneurs are better able to handle the uncertainties and self-doubt that comes starting a business.

#4. Networking Opportunities – Shared offices are a networking heaven. By and large, these facilities contain a diverse group of professionals, remote workers, and entrepreneurs. As such, members can have opportunities to network with people in their own field and people in other areas, which more often than not is possible with home or regular workspaces.

#5. Structure – Initially, individual who felt that the regular 9-5 work cycle did not suit their lives turned to freelancing by setting up a home office. However, this had the effect of combing personal life and professional life. For instance, while at home, you are tempted to check on your dog or handle a personal task, thus taking you away from your work. Coworking allows such individuals to separate their work life and personal life. This induces structure in your professional life, making it easy for you to be efficient and effective.

With all this said, on the basic level, coworking has one particular benefit that many members find indispensable – gets rid of loneliness. Human beings are social beings and isolation has negative effects on our well-being. Coworking provides a social environment that negates loneliness.

Working alone in a spare room at home, shut away from the buzz of mainstream business, the budding author is trying to finish her novel. Working from home is a good business model for her. It’s cheap and she can work through the night when the spirit moves her.

But if that same person was launching a new online business, think how much better it could be for her to be sharing a big space with others. She could be enjoying the energy and synergy of similar enterprising business people. She could be brain-storming ideas with a network of new entrepreneurs surrounding her on a daily basis.

Welcome to the trend of “co-working.”

Diversity and Synergy

The Sydney Morning Herald recently ran an article on ‘co-working,’ highlighting a group of independent web developers, writers and graphic designers sharing space in Melbourne with a fashion designer and her sewing machine.

These unlikely bedfellows enthusiastically supported the practice of sharing their working environment. By sharing space they said they brought together a diversity of talent and experience in one location and at the same time they enjoyed the synergy when working with interesting people. They said working from home or a serviced office just wouldn’t be the same.

When co-workers are in close proximity they are able to offer advice and even develop business opportunities together. The common denominator seems to be the energy of the entrepreneurial spirit.

Co-working in the Technical Age

Co-working is not exactly new, artists have worked in shared ateliers for centuries, but it is an emerging trend for technical and website-related businesses who want to move away from working in isolation. Whether it means sharing a warehouse, commercial office space or an unused factory, the idea is to allow members or tenants to take rooms, desks or working spaces for hours, days or months on a pay-per-use basis. Freelancers and contractors now have an additional office space choice which is both cost-effective and flexible.

Virtual Desktops

Freelancers can enjoy the benefits of shared spaces on an ad-hoc basis because we have the ability to carry documents with us wherever we go. Websites are often optimized for easy reading on a smartphone or a tablet. Web-based storage sites offer free data storage. Cloud computing is turning our iPad into a virtual desktop and making it even easier to access our data when on the road. The PC no longer ties us to one spot.

Combining Skills for Mutual Success

Website builders, although they may hate to admit it, are usually not great website designers or graphic artists. How convenient it could, therefore, be to have a team of collaborators with different skills stationed nearby.

If you are ready to get started in business and want to be around other like-minded people, sharing an office or desk spaces as a co-worker could be the answer to keeping your costs low and your spirits high.